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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had passed. As it turned out yesterday, it hadn’t. The industry’s benchmark, the Baltic Dry Index lost another 3.94% to reach 1,292 points, with the Capesize segment losing 3.05%. But, it was the Panamax market that tumbled the most yesterday, by a whopping 5.08% on a daily basis.
Accroding to a report from BIMCO’s shipping analyst Peter Sand, the current weakness in the Capesize won’t go away anytime soon. “Capesize rates have defied gravity on the back of strong demand for particularly coal but also for iron ore during 2010. This has neutralized some of the downside effects from the heavy inflow of new tonnage into the market. Last year alone, the Capesize fleet grew in numbers by 200 and tonnage wise by 22% and the forecast for this year is an equally challenging supply side growth. With dry bulk demand in 2011 expected to be a little less strong than in 2010 – the freight rate outlook for the Capesize segment is a bit bleak. 20 new Capesize vessels have already joined the fleet in 2011 and with ongoing weather related disruptions not only in Australia – volumes and shipments will be too few to support a significant rate rebound over the coming months” said Sand.
In a separate note, Paris-based shipbroker Barry Rogliano Salles said that “there are some hopes for an increase in activity following the gradual resumption of coal exports in Australia. At the moment Aussie-China rates appeared to have plateaued around US$6.75. Monday saw another small drop in the BCI, while in the FFA market all periods came off with declines greatest for February and March prices”.
BIMCO’s analysis indicated that there are currently 110 Capesize vessels sitting outside the Australian east coast, something which in any other normal case, would be regarded as a healthy picture in terms of freight rates, as actual supply is recuded. “But this time around it merely spells out the trouble and indicates what’s in sight for the large vessels in 2011. Orderings of new Capesize vessels have come relatively down as only 31% of all dry bulk orderings were Capesizes last year. This compares to a relative portion of 50% in the year 2006-2009. Since Capesize freight rates fell below USD 13,000 per day the daily negative change has slowed down and Capesize rates might rest within the interval of USD 7,000-13,000 per day in coming months. As a clear illustration of how bad the situation for the Capesize vessels is, all of the smaller dry bulk segments currently obtain better freight rates than Capesizes. As per 24 January, Capesize average time charter rates were as low as USD 8,665 per day. Meanwhile Panamax earned USD 12,725 per day, Supramax USD 14,789 per day and Handysize USD 11,232 per day.
Even though selected back-haul routes have slipped into negative territory, the time charter averages have not gone that sour. In December 2008 when demand evaporated due to the letters-of-credit issues (and the overall crisis – of course) average T/C rates were as low as USD 2,316 per day. This time around demand is strong as indicated be rising commodity prices – so you should not expect rates to dig that deep” said Peter Sand.
He went on to conclude that such low freight rates are disastrous for ship owners, especially those who are trading in the spot market. According to him, ways out of this would probably be massive demolition of older tonnage, vessels being laid-up like back in the 80’es, postponements of newbuilt deliveries to an even larger extend than what we saw in 2010 and hesitation about signing new contracts for vessels.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
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